Maybe Biden is hiring 87k new IRS agents to handle the GameStop (GME) MOASS capital gains??
🧐 Research Wanted 🤔
Glad the few shares I will be willing to sell are already long term capital gains.
Yeah, at least in the crypto sphere, a lot of people are going to become wealthy when the next bull run comes around and the utility tokens skyrocket. XRP, XLM, XDC, Algo, Iota, Flare network, Quant. This next bullrun gunna be crazy
I thought this too. I also have my eye on the "unrealized gains tax" bill that's been floating around.
On the other hand I have a hard time believing that the white hats haven't already thought of this and would allow a captured federal government to refund itself.
I've also thought that maybe these new agents are coming in to replace the current, corrupt agents. After all, we do expect to see a lot of politicians get audited in the not too distant future.
This is a good possibility as well.
The simplistic answer is it will take a lot more manpower to handle the new corporate tax and they can use the extra help to audit everyone else for missing pennies.
I do like to be optimistic that not all is lost and this will end up being for the best.
First of all, ALL taxes are fraudulent. The IRS is fraudulent. The whole entire "tax system" is not only not a part of the constitution, and not only was created by fraud, it is illegal AND against our inalienable Rights.
The government does not have the right to our property. That is the act of a Tyrannical Sovereign, which is itself against the statements of the DoI, the Constitution, the original intents of those documents, and Natural Law.
In addition to that problem, the laws themselves say nothing about taking the fruits of our labor. The "taxes on profits" law applies to profits AKA dividends from stock ownership. It's designed to apply to those "profits" that require no effort on the part of the investor. It doesn't apply to income from work (wages or otherwise).
I worked for those shares. Their value is a direct application of my holding onto them for over a year and a half, doing research and writing about them, and working towards improving the companies value. That is not "profit," in the legal sense, that is "income," which is not taxable.
The "Capital" in this case didn't just improve itself. I helped, and made nothing on that investment of time and money until... tomorrow! :)
Regardless of that potential "legal" quagmire, the entire concept of the government having a Right to my property is a scam, unlawful (anti-constitutional) and completely illegal (against Natural Law) as stated.
It's safe to say that Biden didn't make the decision but whomever is pulling the strings behind the scenes. Do you think it will be a Biden successor (Harris/Pelosi/etc) or under Trump whether it be 2024 or earlier?
At the current rate we are DRS'ing, 100% will happen in less than a year.
Predictions are they will let it rip around the 70% - 80% mark.
Letting it get to 100% is too risky for the hedgies.
I could use some capital gains right now. The botcoin thingy ruined my portfolio.